What Are the Challenges Faced by Biotech Companies in Cancer Research?
Despite their successes, biotech companies face several challenges:
- High Costs: The development of new cancer treatments is expensive and time-consuming. - Regulatory Hurdles: Obtaining regulatory approval requires extensive data and rigorous testing. - Scientific Complexity: Understanding the underlying mechanisms of cancer and developing effective treatments is highly complex. - Market Competition: The oncology space is highly competitive, with numerous companies vying for market share.
